Event-driven trade link between trading and clearing systems

Details Event-driven trade link between trading and clearing systems Event-driven trade link between trading and clearing systems

2008-01-08

2008-01-08

Nguyen, Nga (Department: 3692)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000, C705S03600T, C705S038000, C705S080000

Reexamination Certificate

active

09793437

ABSTRACT:
A system is provided for linking together a system of trading financial instruments to a system of clearing transactions in financial instruments. In a first aspect of the present invention, the linking system includes a network linking a plurality of trading systems and a clearing system. An external interface couples the trading systems to the network while a clearing interface couples the clearing system to the network. A transmitter module transmits trading information in a plurality of kinds of securities along the network from the trading system to the clearing system. That transmitting selectively occurs approximately simultaneously with the arrival of the trading information at the external interface. The transmitting also occurs independently of the selection of trading algorithm or clearing algorithm. A second aspect of the present invention involves a computerized method for coupling a plurality of trading systems and a clearing system with a network. The method couples the trading systems to the network at an external interface and the clearing system to the network at a clearing interface. Transmission of trading information occurs along the network from the trading system to the clearing system. That transmission selectively occurs approximately simultaneously with the arrival of the trading information at the external interface. The trading information covers trades in a plurality of kinds of financial instruments, including, stocks, bonds, commodities, goods, services, and rights. The transmitting of trading information in the computerized method occurs independently of the selection of trading algorithm or clearing algorithm.

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